MANAGEMENT

BUISENESS MANAGEMENT

TAXES

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Which of the following criteria describe a “dependent?”
A
Is under 19, or under age 24 and a full-time student, or permanently disabled at any age
B
Lives with you more than 50% of the year
C
Doesn’t provide more than half of his or her own financial support
D
all of the above
Explanation: 

Detailed explanation-1: -The IRS defines a dependent as a qualifying child (under age 19 or under 24 if a full-time student, or any age if permanently and totally disabled) or a qualifying relative. A qualifying dependent can have income but cannot provide more than half of their own annual support.

Detailed explanation-2: -To claim your child as your dependent, your child must meet either the qualifying child test or the qualifying relative test: To meet the qualifying child test, your child must be younger than you and either younger than 19 years old or be a “student” younger than 24 years old as of the end of the calendar year.

Detailed explanation-3: -Related Definitions Dependent child means a child residing in an individual’s household who may legally be claimed as a dependent on the federal income tax of such individual.

Detailed explanation-4: -Which of the following criteria is necessary to qualify as a dependent of another taxpayer? Must be considered either a qualifying child or relative.

There is 1 question to complete.